The Kings have bought out Aaron Brooks' contract, according to Alex Kennedy of HoopsWorld (via Twitter). Grant Napear of CBS Sacramento first tweeted that Brooks had been released by the team, while Jason Jones of the Sacramento Bee reported that the two sides were working on a buyout.

Brooks' contract included a 2013/14 player option worth about $3.4MM, but he likely gave that up as part of the buyout. The 28-year-old point guard will become an unrestricted free agent when he clears waivers, but isn't close to reaching an agreement with another team, according to Kennedy, who tweets that Brooks will weigh his options before signing.

Because Brooks was released before tonight's buyout deadline, he'll be eligible to play in the postseason for whichever team he joins next. Kennedy suggested (via Twitter) that the Rockets, Knicks, and Jazz might be potential fits for the veteran. Those teams have either had interest in Brooks in the past or could use a point guard now — or both.